Bloom Energy (NYSE:BE) Sets New 52-Week High – What’s Next?

Bloom Energy Corporation (NYSE:BE)’s stock price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $150.84 and last traded at $145.1260, with a volume of 4577653 shares changing hands. The stock had previously closed at $139.17.

Analyst Ratings Changes

A number of equities research analysts recently commented on BE shares. Wells Fargo & Company increased their price target on Bloom Energy to $95.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 21st. Mizuho set a $89.00 target price on Bloom Energy in a report on Wednesday, October 29th. JPMorgan Chase & Co. lifted their price target on Bloom Energy to $129.00 and gave the company an “overweight” rating in a report on Wednesday, October 29th. Susquehanna upped their price target on shares of Bloom Energy to $157.00 and gave the stock a “positive” rating in a research report on Wednesday, October 29th. Finally, HSBC raised shares of Bloom Energy from a “hold” rating to a “buy” rating and set a $150.00 price objective on the stock in a report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Bloom Energy currently has an average rating of “Hold” and a consensus target price of $96.00.

Bloom Energy Stock Performance

The firm has a fifty day moving average of $105.35 and a 200-day moving average of $78.45. The company has a quick ratio of 2.88, a current ratio of 4.40 and a debt-to-equity ratio of 1.98. The firm has a market cap of $34.32 billion, a P/E ratio of 741.44, a PEG ratio of 11.24 and a beta of 3.01.

Bloom Energy (NYSE:BE) last announced its quarterly earnings data on Tuesday, October 28th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.07. Bloom Energy had a return on equity of 8.74% and a net margin of 0.84%.The firm had revenue of $519.05 million during the quarter, compared to analysts’ expectations of $425.18 million. During the same period in the previous year, the business posted ($0.01) EPS. The company’s quarterly revenue was up 57.1% compared to the same quarter last year. Research analysts predict that Bloom Energy Corporation will post -0.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Bloom Energy news, Director Jim H. Snabe sold 20,000 shares of the stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $143.04, for a total value of $2,860,800.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Maciej Kurzymski sold 13,105 shares of the business’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $144.09, for a total value of $1,888,299.45. Following the transaction, the insider owned 93,269 shares of the company’s stock, valued at $13,439,130.21. The trade was a 12.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 120,410 shares of company stock worth $16,557,185 over the last 90 days. 3.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Fifth Third Bancorp bought a new position in Bloom Energy during the 3rd quarter worth about $32,000. N.E.W. Advisory Services LLC bought a new position in shares of Bloom Energy during the third quarter worth about $32,000. Parkside Financial Bank & Trust raised its position in Bloom Energy by 250.9% in the 3rd quarter. Parkside Financial Bank & Trust now owns 393 shares of the company’s stock valued at $33,000 after buying an additional 281 shares during the last quarter. Cranbrook Wealth Management LLC bought a new stake in Bloom Energy in the 3rd quarter valued at approximately $39,000. Finally, Lodestone Wealth Management LLC acquired a new position in Bloom Energy during the 4th quarter worth approximately $43,000. Institutional investors own 77.04% of the company’s stock.

About Bloom Energy

Bloom Energy is a clean energy technology company that designs, manufactures and deploys solid oxide fuel cell systems for on-site power generation. Its flagship product, the Bloom Energy Server, converts natural gas, biogas or hydrogen into electricity through an electrochemical reaction, offering customers a reliable, low-carbon alternative to grid power. The company also provides a suite of services that includes system installation, remote monitoring and preventative maintenance to ensure long-term performance and uptime.

Founded in 2001 by Dr.